All right, good afternoon. It's 3 p .m. On Thursday,
January 22nd, 2026. We're here in case number
26 -30103 in connection with a cash collateral
motion set at which was filed at docket number
34. So why don't we get appearances of counsel
and then we can proceed. Good afternoon, Your
Honor. Jared Martin, Bradley Arant for the S05
digital debtor. Also with me on the go -to meeting
and via telephone is our Chief Restructuring
Officer with Accordion Partners, Andrew Heating.
Good afternoon. Anyone else wish to make an appearance?
All right. Mr. Martin, I'm going to activate
the hand raising feature. You drew a huge crowd.
So, hit five star. All right, Mr. Heady, hit
five star as well. Mr. Scheinberg, if you want
to be heard, hit five star. Okay, hold on. All
right. All right, Mr. Scott, did you hit five
-star? I did, Your Honor. I just wanted to make
it clear. I don't know if I'll be speaking, but
just in case I might. Brendan Scott of Quait
Set Winters, Director Sutherland Stevens, on
behalf of BH Multicom Corp, BH Multicolor Corp,
Unique Designs, Inc., and Richland Great Pink.
All right. Thank you. Thank you. All right. Go
ahead, Mr. Martin. Thank you, Your Honor. We
received informal comments from the global debtors
and their lenders relating to the interim cash
collateral order. We also worked collaboratively
with Mr. Scott on reservation language he would
like read into the record relating to the consignment
claims. Before I get started, Your Honor, I'm
going to admit exhibits 402 -1 and 402 -2, which
is the first day declaration and the second approved
budget. All right, does anyone object to the
admission of Mr. Headey's declaration at 402
-1 as his direct testimony in connection with
this matter, subject to cross -examination? Okay,
hearing no objection, I will admit that as his
direct testimony. Does anyone object to the admission
of exhibit 402 -2, which is the budget? which
was also filed at docket number 399 -1. All right,
hearing no objection, Exhibit 402 -2 will be
admitted. Thank you, Your Honor. The second interim
cash collateral order is substantially the same
as the first interim order with similar escrow
mechanics relating to expense reimbursements
for the global debtors as we work through the
appropriate amount of expense reimbursements
that should be going from these estates to the
global debtors estates. What we would propose
in this order, Your Honor, is if we could have
another interim hearing on or around February
5th, subject to the court schedule. If there's
no agreement with the global debtors on the reimbursement
mechanics at that time, we'll come back on the
5th. If there is an agreement, We would propose
to upload an amended order that sets our final
cash collateral hearing to be consistent with
the other second day hearings that are currently
scheduled for February 13. I believe the hearing
date section of the proposed order at docket
number 399 -1 is at paragraph 33. 33, yes. February
5th is my panel day, my Chapter 13 panel day,
so... Just before 6th. I think that was just
a rough estimate. Would February 5th, 6th work
for you or February 5th is... February 6th is
fine unless any of the other parties object to
that date. All right, anyone have a problem with
February 6th? All right, why don't we do 9 a
.m. on February 6th, so I'll put that in the
proposed form of order. Thank you, Your Honor.
We'll also prepare a notice of hearing. The statement
role, you're making those changes, Your Honor,
that Mr. Scott would like to read into the record
is that as it relates to consignment counterparties,
the party's rights as to the priority of their
liens, including purchase money, securing interests
and consigned goods as against the term lenders
collateral is preserved. All right. Anyone else
wish to be heard on the cash collateral order?
I did have a chance to review the red line. Thank
you for submitting that. And I didn't have any
questions, although I did notice that it was
a second interim. Earlier today, we filed an
emergency motion to retain a liquidation consultant,
which the court generously allowed us to set
for hearing tomorrow morning at 830. That was
in accordance with the milestones set forth in
the first cash collateral order that this court
signed. The debtors in consultation with accordion
are also pursuing in parallel track bidding procedures.
And we are receiving inbound inquiries from parties
interested in making more of a bulk purchase
of the debtor's assets. And we anticipate in
the coming days filing a motion to establish
bidding procedures as well to pursue parallel
tracks of a liquidation process and a sale process.
I'm going to go ahead and put the objection deadline
on February 2nd, which is that Monday of the
Friday. So that will give people, although from
the filing, they will have had sufficient time,
but just to give people a little bit more time.
All right. Does anyone else, again, does anyone
else wish to be heard with respect to the cash
collateral in the second interim cash collateral
order? All right. I had reviewed the form of
motion and the order before you all came on.
And I think it's a proper exercise of the debtor's
business judgment. There is the escrow mechanism
for the $175 ,000. And so we'll have, I guess,
a second interim hearing or a second hearing
on the, well, yeah, a third hearing on this now
on February 6th at 9 a .m. And so I'll see you
bright and early tomorrow. Yeah, and the reason
I changed it is because I have a confirmation
hearing starting at nine tomorrow. I think it's
not going to go long, but I didn't. I mean, I
wanted the hearing tomorrow. I want to give enough
notice, but the hearing today there's been plenty
of notice, so that's why I moved it. So thank
you for accommodating that. I appreciate the
accommodation on national borders as well. Alright,
so we'll be will stand in recess till 830 tomorrow
morning. Thank you. Thank you.